Sen. John Kerry (D-Mass.) will pay the state of Massachusetts $500,000 to settle a controversy surrounding taxes he might have avoided on a yacht purchase, the Boston Globe reports.

It was recently reported Kerry purchased and docked a yacht in Rhode Island to avoid his state's sales taxes.

Kerry had claimed the yacht was in Rhode Island for repairs, but announced today he could cut a check to his home state to settle the matter.

"We’ve reached out to the Massachusetts Department of Revenue and made clear that, whether owed or not, we intend to pay the equivalent taxes as if the boat’s home-port were currently in Massachusetts," Kerry said in a statement.